Meiji Yasuda Asset Management Co Ltd. Makes New Investment in International Business Machines Corporation $IBM

Meiji Yasuda Asset Management Co Ltd. purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,682 shares of the technology company's stock, valued at approximately $6,378,000.

Other large investors also recently made changes to their positions in the company. Clarion Wealth Managment Partners LLC acquired a new position in shares of International Business Machines during the 2nd quarter valued at about $250,000. Te Ahumairangi Investment Management Ltd acquired a new position in International Business Machines during the second quarter valued at approximately $4,069,000. Burk Holdings LLC bought a new position in shares of International Business Machines in the second quarter valued at approximately $194,000. Pinnacle Holdings LLC acquired a new stake in shares of International Business Machines in the second quarter worth $3,236,000. Finally, LM Advisors LLC acquired a new position in International Business Machines in the 2nd quarter valued at $387,000. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research report on Thursday, July 23rd. HSBC set a $175.00 price objective on shares of International Business Machines and gave the stock a "reduce" rating in a research note on Thursday, July 16th. Needham & Company LLC began coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Stifel Nicolaus cut their target price on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Finally, Piper Sandler raised shares of International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Performance

NYSE:IBM opened at $234.77 on Tuesday. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $221.18 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The firm has a 50-day moving average price of $240.81 and a 200 day moving average price of $246.86.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting analysts' consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The company's quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's dividend payout ratio is 59.98%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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